facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

Staples to speed up closure of 15 US stores



Published: Tue, September 25, 2012 @ 1:30 p.m.

FRAMINGHAM, Mass. (AP) — Staples is speeding up the closure of about 15 of its U.S. stores and plans to close 45 stores and some delivery businesses in Europe.

The office products company also says it will invest more in its online and mobile efforts and will expand the product assortment that it offers to its business customers.

Staples Inc. said today the moves and other actions are part of a strategic plan to better serve customers' needs and accelerate growth.

Staples is trying to adapt to the evolving needs of its customers. Last month the company reported that its second-quarter net income fell as sales of computers, software, and basic office supplies softened.

Computer sales have been pressured by the introduction to many offices of the computer tablet and other mobile devices. Traffic is also down at Staples' stores and Europe continues to be a weak spot.

The chain expects the U.S. store closings will result in a charge of about $35 million in the fourth quarter. For fiscal 2012, it anticipates about 30 U.S. store closings. Staples also expects 30 stores will be scaled down and stores being relocated.

In Europe, the store closures are expected to occur before the end of fiscal 2012. The company has also tapped John Wilson to serve as president of Staples Europe. Wilson succeeds Rob Vale, who is retiring.


Comments

1MzVirgoLuv(157 comments)posted 1 year, 10 months ago

Isn't this the same Staples everyone is bragging about Bain Capital saving? Well, looks like captain save'em didn't do a good job....just like the other companies they didn't save! And yeah, I already know what's coming....BRING IT ON!

Suggest removal:


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes | Pittsburgh International Airport